NBA Wants to Reap the Reward of Legalized Sports Betting, Says Company Exec
*By Michael Teich*
The NBA is transparent about its approval of legalized, regulated sports betting ー but the league is also clearly communicating that it wants a fair share of the money wagered on its games.
"It's our view that if state governments are going to be authorizing private entities, in most cases casinos, to generate significant revenue ー billions of dollars of revenue ー off of the NBA competitions, that the NBA participate in some way. Especially when you consider the additional costs and training and enforcement and monitoring, the risk to our brand if anything happens, if there is any kind of scandal," said the NBA's head of fantasy and gaming Scott Kaufman-Ross.
Data will be a key revenue driver for the NBA. The league has already struck deals with The Stars Group and SportsRadar, in addition to sponsorship partnerships with MGM ($MGM) and FanDuel. But the NBA is determined to collect integrity fees, wherein the league would get a small percentage of the total amount of money bet on its games from operators.
“We are distributing the official data of the NBA," Kaufman-Ross said. "Our data is authentic, it's collected in real time so it can be distributed instantaneously." He added that competing services can only offer data that is stolen or copied from the live broadcast.
While he's optimistic about the future of sports betting, Kaufman-Ross acknowledged the industry is in the nascent stages and the NBA will need to be patient until the industry has realized its full potential. So far eight states have legalized sports betting, and many of the larger markets have yet to approve it.
"We have some time before those dollars will become significant, and the states need to pass laws for that to happen," Kaufman-Ross said.
To protect the sport's integrity, Kaufman-Ross said the NBA plans to invest in new technology that will allow it to "monitor suspicious betting patterns much the way the stock exchange does."
He said the NBA will also work to educate players about the rules to head off any bad behavior.
That said, Kaufman-Ross isn't deeply concerned about players manipulating games to influence betting outcomes.
"Our players are well compensated," he said. "We don't think there is go to be the incentive for anyone to do anything like that."
The median salary for NBA 2018-2019 player contracts is $3,526,480, according to BasketballReference.com
For full interview [click here](https://cheddar.com/videos/the-nba-wants-its-fair-share-of-the-booming-sports-betting-market).
The New York Times and President Donald Trump are fighting again. The news outlet said Wednesday it won't be deterred by Trump's “false and inflammatory language” from writing about the 79-year-old president's health. The Times has done a handful of stories on that topic recently, including an opinion column that said Trump is “starting to give President Joe Biden vibes.” In a Truth Social post, Trump said it might be treasonous for outlets like the Times to do “FAKE” reports about his health and "we should do something about it.” The Republican president already has a pending lawsuit against the newspaper for its past reports on his finances.
OpenAI has appointed Slack CEO Denise Dresser as its first chief of revenue. Dresser will oversee global revenue strategy and help businesses integrate AI into daily operations. OpenAI CEO Sam Altman recently emphasized improving ChatGPT, which now has over 800 million weekly users. Despite its success, OpenAI faces competition from companies like Google and concerns about profitability. The company earns money from premium ChatGPT subscriptions but hasn't ventured into advertising. Altman had recently announced delays in developing new products like AI agents and a personal assistant.
President Donald Trump says he will allow Nvidia to sell its H200 computer chip used in the development of artificial intelligence to “approved customers” in China. Trump said Monday on his social media site that he had informed China’s leader Xi Jinping and “President Xi responded positively!” There had been concerns about allowing advanced computer chips into China as it could help them to compete against the U.S. in building out AI capabilities. But there has also been a desire to develop the AI ecosystem with American companies such as chipmaker Nvidia.
U.S. sports betting is booming as NFL and college football fuel massive activity. BetMGM CEO Adam Greenblatt breaks down trends, growth, and what’s next.
President Donald Trump says a deal struck by Netflix last week to buy Warner Bros. Discovery “could be a problem” because of the size of the combined market share. The Republican president says he will be involved in the decision about whether federal regulators should approve the deal. Trump commented Sunday when he was asked about the deal as he walked the red carpet at the Kennedy Center Honors. The $72 billion deal would bring together two of the biggest players in television and film and potentially reshape the entertainment industry.
Disney's changes to a program for disabled visitors are facing challenges in federal court and through a shareholder proposal. The Disability Access Service program, which allows disabled visitors to skip long lines, was overhauled last year. Disney now mostly limits the program to those with developmental disabilities like autism who have difficulty waiting in lines. The changes have sparked criticism from some disability advocates. A shareholder proposal submitted by disability advocates calls for an independent review of Disney's disability policies. Disney plans to block this proposal, claiming it's misleading. It's the latest struggle by Disney to accommodate disabled visitors while stopping past abuses by some theme park guests.
With a merger this big, creators, studios, and theaters all face uncertain futures. Here’s what experts are worried about and what good could come from it.
With disengagement rising and hybrid work shifting, 'Everybody Matters' author Bob Chapman explains why treating people well could define the future of work.
